You have $2,000 on a credit card that charges a 16% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

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  $48.64

Step-by-step explanation:

The monthly payment amount is given by the amortization formula ...

  A = P(r/n)/(1 -(1 +r/n)^(-nt))

where P is the loan amount, r is the annual interest rate compounded n times per year for t years.

Here, you have P=2000, r=0.16, n=12 (months per year), t=5 (years), so the payment is ...

  A = $2000(0.16/12)/(1 -(1 +0.16/12)^(-12·5)) = $320/(12(0.54828942))

  A ≈ $48.636 ≈ $48.64

You will need to pay $48.64 each month to pay off the charge in 5 years.

  the correct choice is marked

step-by-step explanation:

the first two graphs show multiple turning points. the last graphs matches the description in every detail.

a) y = -3x +2

b) y = 1/2x -6

these 2 can be combined into one equation.

-3x +2 = .5x -6

8 = 3.5x

x = 8 / 3.5 = 2.2857142857

y = -3 * (8 / 3.5) +2

y = (-24 / 3.5) + 2

y = -4.8571428571

step-by-step explanation: